SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

<ul><li>Institutions were net buyers of Singapore stocks with a net inflow of S$365 million from March 13-19, 1Q26 inflow S$60 million.</li><li>21 primary-listed companies conducted buybacks totaling S$86 million, with Stoneweg Europe Stapled Trust and Digital Core REIT participating.</li><li>Q & M Dental Group's CEO's interest increased after Quan Min Holdings acquired 2,381,800 shares for S$1.33 million.</li></ul>

Institutions were net buyers of Singapore stocks with a net inflow of S$365 million from March 13-19, 1Q26 inflow S$60 million.21 primary-listed companies conducted buybacks totaling S$86 million, with Stoneweg Europe Stapled Trust and Digital Core REIT participating.Q & M Dental Group's CEO's interest increased after Quan Min Holdings acquired 2,381,800 shares for S$1.33 million.

Insider and Institutional Positioning on the Week

Offering Senior Secured Loans, Kilde

Kilde

Offering Senior Secured Loans

Kilde connects family offices, funds, and accredited investors to investment-ready private credit deals in developed and emerging markets. We offer senior secured loans from last-mile lending companies with strong capitalization, a healthy balance sheet, and a capable management team.

Thematic (Sector/Industry)

<ul><li>Singapore’s tourism sector is experiencing a robust recovery, with international visitor arrivals reaching 16.5 million in 2024, marking a 21% YoY increase. The recovery is driven by strong inbound demand from China, Indonesia, India, Malaysia, and Australia, alongside increasing long-haul arrivals from the U.S. and Europe.</li><li>The surge in visitor arrivals is translating into record-breaking tourism receipts, projected to exceed S$30 billion in 2025E, surpassing previous highs. </li><li>The rebound in tourism is benefiting multiple industries, particularly aviation, hospitality, gaming, retail, and transportation.</li></ul>

Singapore’s tourism sector is experiencing a robust recovery, with international visitor arrivals reaching 16.5 million in 2024, marking a 21% YoY increase. The recovery is driven by strong inbound demand from China, Indonesia, India, Malaysia, and Australia, alongside increasing long-haul arrivals from the U.S. and Europe.The surge in visitor arrivals is translating into record-breaking tourism receipts, projected to exceed S$30 billion in 2025E, surpassing previous highs. The rebound in tourism is benefiting multiple industries, particularly aviation, hospitality, gaming, retail, and transportation.

Rising Tourism In Singapore: A Strong Recovery with Long-Term Growth Potential

<ul><li>Singapore's economy grew 4.6% YoY in 1Q26, with businesses focusing on margin protection and inventory management amid rising costs.</li><li>April net institutional inflows favored Industrials, Technology, and Utilities, with notable inflows into semiconductor manufacturing and testing sectors.</li><li>Sembcorp Industries led April inflows, with significant energy platform capacity; Oiltek saw record share price gains and improved liquidity.</li></ul>

Singapore's economy grew 4.6% YoY in 1Q26, with businesses focusing on margin protection and inventory management amid rising costs.April net institutional inflows favored Industrials, Technology, and Utilities, with notable inflows into semiconductor manufacturing and testing sectors.Sembcorp Industries led April inflows, with significant energy platform capacity; Oiltek saw record share price gains and improved liquidity.

Singapore Growth Conditions and Recent Institutional Positioning

<ul><li>Yangzijiang Maritime, CAREIT, and Golden Agri-Res will join the iEdge Singapore Next 50 Index on Dec 22.  </li><li>Samudera Shipping Line, Nanofilm Tech, and Aztech Global will move to the Next 50 Index Reserve list.  </li><li>PropNex, China Sunsine Chemical, Banyan Tree, China Aviation Oil, and CSE Global averaged 59% total returns in 2H25.</li></ul>

Yangzijiang Maritime, CAREIT, and Golden Agri-Res will join the iEdge Singapore Next 50 Index on Dec 22.  Samudera Shipping Line, Nanofilm Tech, and Aztech Global will move to the Next 50 Index Reserve list.  PropNex, China Sunsine Chemical, Banyan Tree, China Aviation Oil, and CSE Global averaged 59% total returns in 2H25.

YZJ Maritime, CAREIT & GAR to Join iEdge Singapore Next 50 Index On Dec 22 

<ul><li>Institutions were net sellers of Singapore stocks from Nov 28 to Dec 4, with a net outflow of S$78 million.</li><li>Singtel led share buybacks with 9,072,500 shares repurchased for S$61.2 million, under the Singtel Performance Share Plan 2012.</li><li>MetaOptics plans to raise S$4.85 million through a placement of 6.69 million shares at S$0.7255 each.</li></ul>

Institutions were net sellers of Singapore stocks from Nov 28 to Dec 4, with a net outflow of S$78 million.Singtel led share buybacks with 9,072,500 shares repurchased for S$61.2 million, under the Singtel Performance Share Plan 2012.MetaOptics plans to raise S$4.85 million through a placement of 6.69 million shares at S$0.7255 each.

Stake Additions by Q&M Dental, Frencken, Zhongmin Baihui Retail, and Accrelist directors

Singapore

Q & M Dental Group is the largest private dental healthcare group in Singapore, providing a comprehensive range of primary and specialist dental services. The company also distributes dental equipment and supplies, operates medical clinics, and offers higher education programs for dentists. Headquartered in Singapore, the group was established in November 1996.

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Q & M Dental Group (QNM SP)

Insider and Institutional Positioning on the Week

Institutions were net buyers of Singapore stocks with a net inflow of S$365 million from March 13-19, 1Q26 inflow S$60 million. 21 primary-listed...

Singapore Exchange Ltd (SGX)

Rising Tourism In Singapore: A Strong Recovery with Long-Term Growth Potential

Singapore’s tourism sector is experiencing a robust recovery, with international visitor arrivals reaching 16.5 million in 2024, marking a 21% YoY...

Kilde

Singapore Growth Conditions and Recent Institutional Positioning

Singapore's economy grew 4.6% YoY in 1Q26, with businesses focusing on margin protection and inventory management amid rising costs. April net...

Singapore Exchange Ltd (SGX)

YZJ Maritime, CAREIT & GAR to Join iEdge Singapore Next 50 Index On Dec 22

Yangzijiang Maritime, CAREIT, and Golden Agri-Res will join the iEdge Singapore Next 50 Index on Dec 22. Samudera Shipping Line, Nanofilm Tech,...

Singapore Exchange Ltd (SGX)

Stake Additions by Q&M Dental, Frencken, Zhongmin Baihui Retail, and Accrelist directors

Institutions were net sellers of Singapore stocks from Nov 28 to Dec 4, with a net outflow of S$78 million. Singtel led share buybacks with...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)